Rice Tariffication Law revision sought to let NFA sell cheaper rice

MANILA – Speaker Martin Romualdez on Tuesday said the House of Representatives is eyeing to amend the Rice Tariffication Law to bring down the price of rice by PHP10 to PHP15 per kilo.

In an interview, Romualdez said the proposed amendment would allow the National Food Authority (NFA) to sell cheaper rice in public markets, targeting to reduce the retail price of the staple to PHP30 per kilo from the current range of PHP40 to PHP50.

“Ginagawa natin ito kasi sabi ng Presidente we have to find ways na ibaba natin ang presyo ng bigas. So ‘yung tinatarget natin na by June, we should bring the price of rice down by at least PHP10 or even PHP15, na close to PHP30 kada kilo (We are doing this because the President [Ferdinand R. Marcos Jr.] said we have to find ways to lower the price of rice). So, our target is that by June, we should bring the price of rice down by at least PHP10 or even PHP15, so that it's close to PHP30 per kilo),” he said.

Other proposed changes, he said, would include tariff rates, taxes, and the expanded authority of the NFA to purchase palay from farmers.

He said the chamber would coordinate with the Office of the President on the proposal and ask President Ferdinand R. Marcos Jr. to certify it as urgent.

He further noted that bringing down the price of rice has been a priority of President Marcos.

“Kasama po kami dyan sa urgency niyan kasi alam mo naman ‘yung ating mahal na Presidente ayaw na ayaw na mahihirapan ang ating mamamayang Pilipino, the consumers, and of course the rice buyers. Dapat magkakaroon ng tamang presyo ng bigas na abot kaya ng lahat (We are part of that urgency because we know that our beloved President does not want Filipinos, the consumers, and of course, rice buyers to suffer. The price of rice should be right so that everyone can afford them)," he said.

He, meanwhile, asked the Senate to work on similar changes in the Rice Tariffication Law. (PNA)